| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Best |
| Demographics | 44th | Fair |
| Amenities | 92nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 21601 Provincial Blvd, Katy, TX, 77450, US |
| Region / Metro | Katy |
| Year of Construction | 2007 |
| Units | 92 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
21601 Provincial Blvd Katy Multifamily Investment
Inner-suburb location with strong amenity access and proximity to major employers supports steady renter demand, according to WDSuite’s CRE market data.
The property sits in an Inner Suburb of the Houston metro that is competitive among Houston-The Woodlands-Sugar Land neighborhoods (ranked 68 out of 1,491). Dense daily-needs coverage stands out: neighborhood amenities score in the top quartile nationally, with restaurants and pharmacies especially abundant. This depth of retail and services enhances convenience and helps sustain leasing interest from working households.
Neighborhood-level occupancy is below the national median, indicating some lease-up and retention work may be needed, yet median rents in the area have risen meaningfully over the past five years, signaling durable renter demand and pricing power in better-positioned assets. Within a 3-mile radius, roughly 37% of housing units are renter-occupied, offering a substantial tenant base without being overly reliant on transient renters—an appealing balance for multifamily operators.
Demographics aggregated within 3 miles point to a growing and increasingly affluent renter pool: population and household counts have expanded over the last five years, with incomes trending higher. Forward-looking projections indicate additional population and household growth, which should translate into a larger tenant base and support for occupancy and rent levels. In market context, this submarket’s amenity depth and workforce access compare favorably to many suburban peers, reinforcing the area’s investment relevance for multifamily property research.
Safety indicators are around the national median overall, positioning the neighborhood as broadly in line with typical suburban Houston areas and competitive among Houston neighborhoods (430 out of 1,491). Recent trend data is constructive: both violent and property offense estimates declined year over year, which, while not a guarantee of future conditions, suggests improving momentum relative to prior periods.
Investors should frame safety as one input among many: the area’s median-like profile nationally, paired with improving trends, can support resident retention when combined with on-site measures and professional management practices. As always, context is neighborhood-level rather than property-specific.
The location benefits from proximity to major corporate employment nodes that underpin workforce housing demand and reduce commute friction for residents, including Sysco, ConocoPhillips, Phillips 66, Group 1 Automotive, and ABM SSC.
- Sysco — foodservice distribution HQ (7.7 miles) — HQ
- Conocophillips — energy HQ (7.7 miles) — HQ
- Phillips 66 — energy HQ (11.4 miles) — HQ
- Group 1 Automotive — auto retail HQ (12.1 miles) — HQ
- Abm SSC — business services (12.8 miles)
This Inner Suburb location combines deep amenity coverage with access to multiple Fortune 500 employers, supporting a resilient tenant base. Neighborhood rents have advanced meaningfully over five years, while occupancy at the neighborhood level sits below the national median—conditions that favor operators who can differentiate on operations and product quality. Within a 3-mile radius, population and households have grown and are projected to expand further, pointing to renter pool expansion and support for leasing velocity. According to CRE market data from WDSuite, the neighborhood’s income trajectory and amenity depth compare favorably to many suburban peers, which can translate into durable demand for well-managed assets.
Investor considerations include managing affordability pressure (neighborhood rent-to-income is elevated) and monitoring macro-sensitive employment exposures. Execution focused on efficient turns, value-forward unit finishes, and resident services should be well positioned to capture demand and stabilize occupancy in line with stronger submarket performers.
- Amenity-rich inner-suburb with strong daily-needs access supporting leasing and retention.
- Growing 3-mile population and household counts expand the tenant base and support occupancy stability.
- Proximity to multiple corporate HQs underpins workforce housing demand and reduces commute friction.
- Neighborhood rents have risen meaningfully, favoring operators who can deliver quality and service.
- Risks: neighborhood occupancy below national median and elevated rent-to-income; requires attentive lease management and targeted upgrades.